3. Declaration of Independence, Relevant Relationships and Indemnities

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1 Rodewald Consulting Limited P O Box Tauranga 3144 Phone: tomr@rodewaldconsulting.co.nz RO Construction Limited (In Liquidation) Liquidator s First Report 8 November Background RO Construction Limited (In Liquidation) ( the Company ) was placed into liquidation by special resolution of the shareholder on the 2nd day of November 2018 at 9:45 pm. Thomas Lee Rodewald, Chartered Accountant of Tauranga was appointed as Liquidator of the company. 2. Disclaimer This report is not intended for general circulation, nor is it to be reproduced or used for any purpose other than that outlined above without written permission in each specific instance. The Liquidator does not accept any responsibility or liability for any damage or loss occasioned to any party as a result of the circulation, publication, reproduction or use of this report. In particular the Liquidator takes no responsibility for any misinformation contained therein that has been supplied by the company, its officers or any other person. The report is also based upon information available at this date, and the Liquidator therefore reserves the right to review, and if necessary, amend the report. 3. Declaration of Independence, Relevant Relationships and Indemnities Attached as Appendix 1 is the Declaration of Independence, Relevant Relationships and Indemnities. 4. Company Information Date of Incorporation: 29 January 2015 Trading Address: 32 Rhoboro Road, Twizel Type of business: Building Construction Date trading ceased: April 2018 Shareholders: Richard John O'Sullivan Number of Shares: 100 Directors: Richard John O'Sullivan 5. Events Leading to Appointment of Liquidators The Director of the company has advised the reason for the failure of the Company is due to losses on contracts completed.

2 6. Statement of Affairs We attach as Appendix 2 a statement of the Company s affairs as at the date of our appointment. This has been prepared from information provided by a director of the Company and the Liquidator is not yet able to express an opinion on the validity of that information. Also attached as Appendix 3 is a list of known creditors as at the date of appointment. 7. Proposals for Conducting the Liquidation The Liquidator will review the Company s books and records to establish if there are any potentially voidable transactions, any potential shareholder current issues and ensure the Director/s have complied with their duties and obligations imposed on them under the Companies Act Estimated Date of Completion of Liquidation and Notice As To Further Reports It is not practicable to estimate the date of the completion of the liquidation at this stage. Further reports will be issued six monthly, with a final report at the conclusion of the liquidation. 9. Creditors Meeting Having regard to the assets and liabilities of the company, the likely result of the liquidation and other relevant matters, the Liquidator considers in accordance with section 245 of the Companies Act 1993 that no such meeting should be held. A meeting will not be called unless within 10 working days after receiving this notice a creditor gives notice in writing to the Liquidators requiring a meeting to be called. The Liquidator dispenses with holding a creditors meeting pursuant to Section 243 of the Companies Act 1993 as the dividend is expected to be nil or very small. In accordance with Section 314 of the Companies Act 1993 a creditor or shareholder may request the Liquidator to call a meeting of creditors or shareholders at any time in the course of the Liquidation to vote on a proposal that a Liquidation Committee be appointed to act with the Liquidator. This request must be in writing. The Liquidator may decline a request by a creditor or a shareholder to call a meeting on the grounds that: a) the request is frivolous or vexatious; or b) the request was not made in good faith; or c) the costs of calling the meeting would be out of proportion to the value of the company s assets.

3 The decision to decline a request may be reviewed by the Court on the application of any creditor or shareholder. 10. Creditors Claims If your terms of trade with the company include reservation of title of goods supplied please contact Tom Rodewald by tomr@rodewaldconsulting.co.nz Please complete and return the enclosed Unsecured Creditors Claim form by 2 January 2019 to carolc@rodewaldconsulting.co.nz. If you believe that you are a secured creditor please contact our Tauranga office and the appropriate forms will be sent to you. Completion of your claim should be given your urgent attention. If creditors do not lodge a claim with the Liquidator, the creditor is not entitled to share in any distribution to creditors that may be made by the Liquidator. 11. Further Information If you require any further information or if you have any information that will be of assistance to the Liquidators please contact Tom Rodewald on or tomr@rodewaldconsulting.co.nz. Thomas Lee Rodewald Liquidator

4 Appendix 1 Declaration of Independence, Relevant Relationships and Indemnities Name of Insolvent: RO Construction Limited I Thomas Lee Rodewald, Chartered Accountant and accredited Insolvency Practitioner declare that: Independence: I have undertaken a proper assessment of risks to independence in accordance with the law, code and applicable professional standards; I have determined that the assessment identified no real or potential risks to independence. Relationship I have not had any communication or prior meeting with the insolvent or its director or any associated party prior to accepting appointment other than to provide necessary documentation. This appointment arose from a viewing of my Liquidation Online website. I have provided no other information to the insolvent, officers of the insolvent or the advisors. I have had no relationship with the insolvent, associates of the insolvent or security holder in the preceding 2 years; I have no other relevant relationships, including personal, business and professional relationships, over the previous 24 months with the insolvent, an associate of the insolvent, a former insolvency practitioner appointed to the Insolvent or any person or entity that has a charge over the whole or substantially whole of the Insolvent s property that should be disclosed. Independence and Upfront Payments I have received an upfront payment of $3,000. This is held in the name of the insolvent in the Rodewald Consulting Limited Trust Account and will be applied on a time and cost basis. Thomas Lee Rodewald

5 Appendix 2 RO Construction Limited (In Liquidation) Statement of Affairs as at the Date of the Appointment of the Liquidators being 2 November 2018 Assets Plant & Equipment Shareholder Current Account Motor vehicles Estimated to Realise Note Less Secured Claims Fleet Partners Approx. 21,000 Southbank Building Supplies Limited t/a Placemakers Crandford Street Less Preferential Claims Employee Claims Inland Revenue Department 50,970 Deficit before Unsecured Creditors Less Unsecured Creditors IRD Income Tax (penalties & interest) 27,327 Personal Loan ANZ Bank 49,361 Trade Creditors 11,251 Deficit (before costs of liquidation) Disclaimer This statement should be read in conjunction with the disclaimer on page one of the above Liquidator s report and Rodewald Consulting Limited have not audited the report and they, their directors or employees accept no liability to any other party in relying on the information presented. The purpose of the report is to give creditors of the company an indication of the financial position of the company as at the date of appointment of the Liquidator. Rodewald Consulting Limited

6 Appendix 3 RO Construction Limited(In Liquidation) Schedule of Creditors as at 2 November 2018 Name Address 1 Address 2 Address 3 Fleetpartners NZ PO Box Manukau City Auckland 2241 Southbank Building Supplies Limited 318 Cranford Street Christchurch ANZ Bank BB Rees Accounting PO Box Tower Junction Christchurch Brita Safety PO Box Horley Christchurch Darren White 27 Takaro Avenue Sockburn Christchurch Contact Energy Private Bag 4709 Christchurch Spark NZ Limited PO Box 1413 Christchurch Personal Loan Inland Revenue Department PO Box Wellington MC Lower Hutt

7 CREDITORS CLAIM FORM (Also for use by Preferential Creditors) Section 304 (1) Companies Act 1993 Name and postal address of creditor in full *Any personal information collected is for the purpose of administering the liquidation in accordance with the... Companies Act Telephone number:... My reference is:... (if applicable) address:. I consent to receiving future information about the company by RO Construction Limited (In Liquidation) The information will be used and retained by Rodewald Consulting Limited and will be released to other parties only with your authorization or in compliance with the Privacy Act Under section 304(1) of the Companies Act 1993 any claim by an unsecured creditor against a company in liquidation must be in this prescribed form and must - (a) Contain full particulars of the claim; and (b) Identify any documents that evidence or substantiate the claim. You may have access to, and request correction of any personal information. (*Not applicable, if creditor is not an individual within the meaning of the Privacy Act 1993.) I (If claim is made on behalf of creditor, specify relationship to creditor and authority) claim that the company was at the date it was put into liquidation indebted to the above named creditor for the sum of [amount in words and figures]: $ STATUS OF CLAIM: TICK 1. I am an unsecured creditor 2. I am surrendering the security I hold and I am claiming as an unsecured creditor 3. I am making a preferential claim (refer details of reverse) 4. I am claiming reservation of title rights pursuant to rights held by me (Refer details on reverse) Full particulars of the claim are set out, and any supporting documents that substantiate the claim are identified on the reverse of the form. (Please include copies of all unpaid invoices) Signed: WARNING:- Date: It is an offence under section 304(6) of the Companies Act 1993 to:- Make, or authorize the making of, a claim that is false or misleading in a material particular knowing it to be false or misleading; or Received (Date Stamp) Omit, or authorize the omission, from a claim of any matter knowing that the omission makes the claim false or misleading in a material particular. Reserved for Office Use: Claim admitted for voting purposes: Signed: Date: Claim rejected for voting purposes: Signed: Date: Claim rejected for payment: Signed: Date: Preferential claim for: Ordinary Claim for: Deferred Claim for: $ $ $ Signed Liquidator: Dated: Note: If the decision to admit or reject a claim is amended, regulation 8 of the Companies Act 1993 Liquidation Regulations 1994 requires that it be recorded in writing. Please return this form to: Rodewald Consulting Ltd, PO Box 15543, Tauranga 3144 carolc@rodewaldconsulting.co.nz

8 Date PARTICULARS OF CLAIM Details of claim and Identification of Documents that Evidence or Substantiate the Claim (i.e., unpaid invoices) Amount $ RETENTION OF TITLE CLAIMANTS ONLY Please provide details of the basis of your retention of title claim and furnish a copy of the documentation showing that such reservation of title clause is a condition of contract. Yes/No $... PREFERENTIAL CLAIMANTS ONLY 1. Are you claiming the full amount of your claim as preferential? 2. If no, what part of the claim is preferential? 3. Why do you believe you are a preferential creditor? (E.g. employee, GST etc) Details of your claim If applicable, please record your GST registration number: Total GST included in your claim $...

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